Saturday , October 19, 2019

Square Selling Caviar to DoorDash and other Digital Transactions News briefs from 8/2/19

  • Square Inc. agreed to sell its Caviar food-delivery service to DoorDash for $410 million in cash and DoorDash preferred stock. Square acquired Caviar in 2014 for a reported $90 million.
  • Montreal-based payment firm Nuvei Technologies completed its acquisition of U.S.-based SafeCharge International Group Ltd. for $889 million; the deal brings to Nuvei technology assets and merchant relationships in Europe, Asia, and Latin America.
  • Cardtronics plc said second-quarter interchange revenues fell 18% year-over-year to $89.9 million, primarily as a result of a 10% cut in interchange by the Link network in the United Kingdom, a big market for the ATM network owner and operator. In response, Cardtronics began surcharging transactions at a number of formerly free British ATMs, boosting total surcharge revenues 6% to $152.4 million. U.S. same-store transactions grew 3%.
  • Business-to-business payment provider Paystand introduced Assurety-as-a-Service, which it said allows businesses to create blockchain networks “in minutes.”
  • WEX Inc., a U.S.-based fleet-fueling payments specialist, appointed Marcelo Geraldi Velloso managing director for Latin America, based in Sao Paulo, Brazil.

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